Now that you've learned the basic and revenue specific KPIs your product enablement organization should be considering the next step is to choose which ones are the best measures of success for your business.
The first thing you should consider is what are the metrics that matter to your business. Do you have a north start metric? If so, that should be integrated if possible. Aligning with company priorities is essential to ensure your team's direction is the same as the overall company's direction.
Next, determine what your ideal metrics are and what data points you have access to. For example if you determine attention, journey completion, and daily active of trained users are the key metrics for your product enablement team, you'll want to ensure those are metrics you both capture and can access. In this scenario attention and journey completion should be things you can retreive from your web hosting system or LMS, but the latter may be dependent on having your product or database team retrieve and provide you that information.
Third, identify how those metrics will be used. While you may utilize all for different levels of reporting and feedback, will some be tied to team goals, compensation, performance evaluation? Depending on how metrics will be used, you will want to validate data integrity and reliability, statistical significance and error margins, and subjectivity of the data.
Finally, you'll need to benchmark those metrics and set expectations. Benchmarking should be done against your data set and if needed validated against industry standards; for instance if your TSAT is dismally low, you should not set it against your current performance, but instead look to how others perform to set goals. You'll also need to clearly communicate these to stakeholders to ensure everyone understands the measures, how the data is gathers, and what the intpretations are.
We hope this post helped to in selecting the KPIs that matter to you. It's not an exact science, if you have choosen KPIs you feel don't fit you can adust; similarly, your team may outgrow the KPIs and they should be iterated to ensure you continually drive success.
In our next and final post in this series, we'll review the necessity for qualitative considerations.